Federal Reserve Bank of New York Executive Vice President Simon Potter urged all foreign exchange market participants to adopt the FX Global Code.
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The Board of Governors of the Federal Reserve System fined a bank for unsafe and unsound practices in the foreign exchange markets.
A bank holding company agreed to pay a fine of approximately $110 million to settle charges of failing to supervise foreign exchange traders' communications and activities.
The Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation proposed an alternative approach for calculating derivative exposures under regulatory capital rules.
The Comptroller of the Currency, Federal Reserve Board and FDIC proposal allowing "advanced-approaches" banking organizations ( i.e. , those with $250 billion or more in total consolidated assets, or $10 billion or more in on-balance sheet foreign exposure) to use an alternative approach for calculating derivative exposures under regulatory capital rules was published in the Federal Register. Comments must be received before February 15, 2019. As previously covered , the proposed approach - the standardized approach for counterparty credit risk ("SA-CCR") - would replace the current exposure